South Carolina Insurance Exam Questions And Answers

South Carolina Insurance Exam Questions And Answers An insurer is REQUIRED to offer which of the following to each long-term care applicant at the time of purchase? - ANS Inflation protection Which of these riders will pay a death benefit if the insured's spouse dies? - ANS Family term insurance rider Disability income plans which require that the insurer can NEVER change or alter premium rates are usually considered - ANS Nonconcellable What is the required action to be taken by a South Carolina licensee before operating under an assumed business name? - ANS Notify the Director The suicide clause of a life insurance policy states that if an insured commits suicide within a stated period from the policy's inception, the insurer will only be liable for a return of premiums paid - ANS minus indebtedness and without interest If an annuitant dies before the annuity start date - ANS the premiums paid plus interest will be given to the beneficiary The purpose of the Coordination of Benefits provision in group accident and health plans is to - ANS avoid overpayment of claims The typical long-term care insurance policy is designed to provide a minimum of___year(s) of coverage - ANS 1 Decreasing term life insurance is often used to - ANS provide coverage for a home mortgage Which type of life insurance policy pays the face amount at the end of the specified period if the insured is still alive? - ANS Endowment policy A life insurance policy normally contains a provision that restricts coverage in the event of death under all of the following situations EXCEPT - ANS fare-paying passenger